Askume, Sept 16 – Britain’s new trade minister visited the Gulf region on Monday in his first joint trip to negotiate a potential trade deal, the British government said.
Trade Minister Jonathan Reynolds and Trade Policy Minister Douglas Alexander will meet their counterparts in the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
Trade has been a weak point in the British economy in recent years – and business groups cite Brexit as one of the reasons.
Prime Minister Keir Starmer’s Labour Party was elected with a landslide majority in July, and the government has also signed trade deals with India, Switzerland and South Korea as part of its plan to boost economic growth.
Reynolds said in a statement: “I want to see a high-quality trade deal that supports jobs, helps British companies sell across the region and increases consumer choice, so it’s great to be here discussing it.
The Department of Business and Trade estimates that a free trade deal with the GCC could boost the UK economy by up to £1.6 billion ($2.1 billion) in the long term.
Among the Group of Seven developed economies, Britain ranks last for growth in exports of goods and services since 2019, even when taking into account the country’s huge trade in precious metals, according to national accounts data.
($1 = 0.7621 British pounds)
